State Regulatory Issue

[Jerry Bone Jr]

A homeowner files a complaint but leaves out information and provides information that is incorrect. Then the state reg authority opens a complaint file and asks me to respond to issues brought up by borrower (actually forwarded a copy of the borrower's/homeowner's letter with redactions). The state regulator did not request a copy of the appraisal or the work file. May I reveal all information I have regarding the appraisal and work file without the client's (lender's) consent and be in compliance with USPAP?

You could ask these people:
Phone: (360) 664-6504
Fax: (360) 586-0998
Right Fax: (360) 570-4981
Email: reappraisers@dol.wa.gov

 

[Don Clark]

I would get in touch with a legal eagle before sending anything to the state. Sometimes, even the most simple comments can be taken as an admission of guilt and cause them to proceed further. It's not cheap, but worth it in the long run!

You do so at your own peril. We had an appraiser try that recently and paid a fine of $12,500.00 and a 6 months suspension of license, even with an attorney representing him.

All appraisal regulatory agencies operate under color of due process of law as they were established by acts of the state legislature, and usually operate under the Administrative Process Act of their state.

 

[stefan olafson]

Hire an attorney and don't trust the state board AT ALL. I'm a living example of someone who trusted his friends on the board and I don't have a license because of it!

 

[lionfish]

The request for the work file, orig appraisal, etc. report has arrived. My problem with the process is that the investigator has not even seen the original appraisal report. All that was provided was misleading letter from an ignorant person who is angry because of bad news. A simple comparison of the complaint's main points and my actual report would have convinced even a novice that the complaint was bogus. Now I have to make a bundle of paperwork, do a point by point rebuttal of nonsense, notify my E&O carrier and be exposed to the underlying risk of some type of penalty ranging from fines (and states do like to fine) or worse. The borrower/homeowner is not the client and the report is not written for them as an intended user. The borrower/homeowner is the most emotional unreliable source of complaints yet the state merely forwards their letter for my response under threat of state actions? Bullsh#%. This will cost me production time and hard costs and maybe more because some ignorant vindictive homeowner does not know how to interpret the nuances of a URAR.